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TRITON ENERGY CORPORATION SETTLES ALL OUTSTANDING SHAREHOLDER LAWSUITS

 DALLAS, Sept. 28 /PRNewswire/ -- Triton Energy Corporation (NYSE: OIL) today announced that it has reached an agreement in principle to settle all outstanding shareholder and derivative suits. The company has also reached an agreement in principle with its insurance carriers regarding their funding of settlement and related costs.
 "Settlement of these matters will enable us to concentrate our time and resources on building Triton's core international exploration and production business and we believe that it is in the best interest of our shareholders," said Robert B. Holland III, senior vice president and general counsel.
 The company expects that existing loss reserves are adequate to cover the company's share ($2.7 million) of the settlement amount. Finalization of the settlement is subject to several conditions, including negotiation of definitive settlement agreements, confirmatory due diligence and court approval.
 Triton Energy, with headquarters in Dallas, is an international independent oil and gas exploration and production company with oil and gas interests in numerous countries.
 -0- 9/28/93
 /CONTACT: W. Greg Dunlevy or Linda Covington of Triton Energy Corporation, 214-691-5200/
 (OIL)


CO: Triton Energy Corporation ST: Texas IN: OIL SU:

WB -- NY039 -- 6302 09/28/93 10:35 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
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